Hanover Co., a Houston-based developer, has its sights set on Boston. The developer announced that it will break ground on two apartment complexes by the year’s end. The developments, one in Boston and the other in Cambridge, are the newest additions to Boston’s ever-changing skyline. The Cambridge development, a 398-unit apartment complex, will commence next […]
Say goodbye to Johnnie’s Foodmaster, a supermarket chain founded in East Cambridge in 1947. Last week it was confirmed that all 10 Foodmaster supermarkets are closing. After 65 years in business, doors are set to close on November 30th. Reports that Whole Foods Market would purchase 6 of the 10 leases the Foodmaster chain held […]
The Back Bay’s skyline may have its newest edition—a 33-story hotel and residential dubbed 40 Trinity Place. The plans for the complex were unveiled Tuesday by prominent real estate developers Trinity Stuart LLC, a local development partnership comprised of Jordan Warshaw, Gary Saunders, and Jeffrey Saunders.. The project will include a 220-room hotel, 142 units […]
Boston’s technology community thrived in the 1980s and 1990s. Tech-startups in the area were unparalleled in the United States and Boston benefited economically from rapid growth within the technology industry. Today, well known venture capitalist Brad Feld believes that Boston is once again effervescent with opportunity. Sponsored by the New England Venture Capital Association, Feld […]
Zynga, a social game provider based in San Francisco, CA, has announced the closure of its Boston office as well as a 5% decrease in its full time work force of 2,900 employees. Reductions are part of a cost-cutting campaign the company has undergone due to recent declines in earnings. The company has also cut […]
Lock-Ober, a 137-year-old restaurant closed its doors indefinitely this weekend. The historic eatery, which has served royalty, presidents, and movie stars, now has a sign outside stating that is closed for business. The restaurant was founded in the late 19th century by a Frenchman named Luis Ober. Since it’s founding it has become a landmark […]
Residence who opposed the construction of apartments at the former Home for Little Wanderers in Jamaica Plain were left speechless after the Boston Redevelopment Authority approved the project. Boston Residential Group’s $75 million plan is to demolish the nearly 100-year-old building on South Huntington Avenue and construct a 196-unit apartment complex dubbed Olmsted Place. The […]
A proposal by Mayor Thomas Menino to expand housing inspections in the Boston area has been met with great discern by landlords. The plan, which would cost property owners $3.5 million in just the first year of its implementation, is not favorable for landlords and tenants alike. Due to the fixed nature of available housing […]
Millennium Partners, the firm developing Millennium Place at Washington and Avery streets, will begin selling condominiums this week. The 256 luxury condominiums range in price from “$550,000 for one-bedrooms facing a courtyard to $3.5 million for penthouses with rooftop terraces” (Boston Herald).
Since the second quarter of 2011, Vacancy rates in Cambridge have been improving. Cambridge’s vacancy rate peaked that quarter at 10.3% and has been steadily declining since. The figures are in for the second quarter of 2012 and vacancy rates have dropped to 9.4% with a total of 10,137,858 square feet vacant in the Cambridge […]
